Author: NBTC
Bitcoin could drop to as low as $50,000 over the next few weeks as the macroeconomic uncertainty looms over the crypto market, said Markus Thielen, co-founder of 10x Research. Even the halving, which takes place on Saturday, might not drive the price of bitcoin up as most of the price action after previous cycles was driven by a better macro environment. Bearish signals are looming over the crypto market these days and will almost certainly push prices down in the short term, well-known research analyst Markus Thielen said. Thielen, who has previously predicted many bull and bear rallies in crypto,…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Last November, DEX aggregator KyberSwap was hacked to the tune of $47 million, tanking its protocol and losing the funds of its liquidity providers. In a strange turn of events, the mysterious hacker made an unprecedented request to release the stolen funds only if the entire executive team quit and made him CEO. Unsurprisingly, this demand was rejected, and the hacker began bridging the stolen funds to Ethereum using the Synapse protocol. You might also like: Spot…
Sui Network, a decentralized layer 1 platform, has addressed and clarified widespread misconceptions regarding token supply. The response, published on X, is a rebuttal to attacks on its tokenomics, particularly the distribution and control of tokens by founders. The founders of the network are under investigation on charges of storing tokens in large quantities. The platform stated that its token economics are reasonable as it uses well-established third-party custodians to store locked tokens. According to the network, these tokens are issued according to a predetermined emission schedule, which is publicly available. The fund emphasizes that the founders have no control…
An important stage has been reached in cryptocurrency studies in Turkey and AK Party Group Chairman Abdullah Güler announced the details of the “Proposal on Amendments to the Capital Markets Law” at the press conference he held in the Turkish Grand National Assembly. Güler stated that the announced draft law first includes the definition of concepts such as wallet, crypto asset service provider and platform in the crypto asset ecosystem. Abdullah Güler made the following statements: “Cryptocurrency exchanges will start providing services by obtaining a license from the CMB. The sale and distribution of crypto assets will be determined by…
Mintlayer, a prominent Layer-2 scaling solution, has partnered with Salus, a security firm specializing in zero-knowledge (ZK) proofs, to introduce the Thunder Network—a cutting-edge Layer-3 ZK rollup-based network designed to enhance Bitcoin’s scalability and functionality. Advancing Bitcoin’s capabilities with Thunder Network The Thunder Network initiative is poised to transform Bitcoin’s utility by integrating advanced privacy features, improved transaction speeds, and greater scalability. This Layer-3 solution enhances these aspects and brings Ethereum Virtual Machine (EVM) compatible functionalities. With it, developers can seamlessly build applications that are both secure and reliable on a Bitcoin-connected infrastructure. This integration means that existing EVM dApps…
As Bitcoin nears its next halving, attention is shifting towards an exciting development – the launch of the Runes protocol by developer Casey Rodarmor. Runes will go live after Bitcoin completes halving. This new framework enables the creation of altcoins directly on the Bitcoin blockchain. This feature was once exclusive to networks like Ethereum and Solana. Runes Anticipation Spike Up Bitcoin Transaction Fees The buzz around Runes stems from the success of Rodarmor’s previous project, the Ordinals protocol. Ordinals introduced NFT-like “inscriptions” to Bitcoin, infusing innovation and increased mining revenue into the community. However, this led to network congestion and…
Over the past 35 days, the total value locked in decentralized finance (defi) protocols has expanded by $11.89 billion, recovering from a low of just over $83 billion on April 13. Although it has not yet reached the $100 billion mark, the value locked in defi is approaching that milestone after hovering just below it. Defi Protocols See $11.89B Boost As of May 18, 2024, the total value locked (TVL) in defi stands at $94.93 billion, according to stats from defillama.com. This is an increase of $11.89 billion from the $83.04 billion low recorded 35 days prior. Among the top…
Investment asset management firm Franklin Templeton published a report detailing Solana’s (SOL) accelerated adoption over some time. With the validation from the firm, Solana has jumped by more than 9% to $138.46. Solana’s survival and resilience after the unfortunate implosion of the FTX cryptocurrency exchange were identified. The cryptocurrency suffered a huge blow in 2022 but has since demonstrated laudable resilience. Franklin Templeton pointed to the fact that Solana has successfully captured a significant portion of cryptocurrency activity from 2023 to 2024. Considering all the challenges Solana has faced, including the multiple network congestions it faced in March 2024, Franklin…
A developer of the anonymizing tool Tornado Cash, Alexey Pertsev, was sentenced to spend 64 months in prison. Many members of the crypto community say the decision is outlandish. ‘S-HERTOGENBOSCH, Netherlands — As 31-year old Russian Alexey Pertsev stood outside the courtroom on Tuesday awaiting a verdict from a judge at the s-Hertogenbosch courthouse in the Netherlands, he looked calm. When the judge ruled the Tornado Cash developer was guilty of money laundering, he did not appear to be outraged. It wasn’t until the Dutch police edged toward him that he seemed surprised he wouldn’t get to say goodbye to…
droppGroup, a trailblazer in the fusion of AI and blockchain technologies, has revealed the debut of droppLink, an ingenious service platform set to redefine artificial intelligence (AI) development and management across various blockchains. The infrastructure of droppLink simplifies computational demands, facilitates micropayments, and democratizes data contributions, granting users ownership and oversight. Stakeholders, termed Computational Resource Patrons (CRPs), underpin infrastructure costs and partake in the revenue yielded by the AI processes they enable. CEO and Co-Founder of droppGroup, Gurps Rai, emphasized, “droppLink ensures unmatched data integrity and streamlines AI development by tokenizing every action in an AI model’s lifecycle on multiple…